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Who Is Freedom Debt Relief?
Freedom Debt Relief is a reputable and well-known debt settlement company that specializes in helping individuals and families resolve their financial burdens. With over 18 years of experience in the industry, Freedom Debt Relief has assisted thousands of clients in achieving financial freedom and becoming debt-free.
The company was founded in 2002 by Andrew Housser and Brad Stroh, who recognized the need for a trustworthy and effective solution to debt problems. Since its inception, Freedom Debt Relief has grown exponentially and has become one of the largest debt settlement companies in the United States.
How Does Freedom Debt Relief Work?
Freedom Debt Relief works by negotiating with creditors on behalf of their clients to reach a settlement for a reduced amount of the total debt owed. The process typically involves the client making monthly deposits into an FDIC-insured account, which is then used to negotiate settlements with creditors.
Once a settlement agreement is reached, the client makes a one-time payment to the creditor, which is usually a significantly reduced amount compared to the original debt. Freedom Debt Relief charges a fee based on the amount of debt enrolled in the program, which is typically a percentage of the total debt.
The company assists with a wide range of unsecured debts, such as credit card debt, medical bills, personal loans, and collection accounts. However, it’s important to note that Freedom Debt Relief does not handle secured debts like mortgages or auto loans.
Frequently Asked Questions about Freedom Debt Relief:
1. Is Freedom Debt Relief a legitimate company?
Yes, Freedom Debt Relief is a legitimate and well-established company with an A+ rating from the Better Business Bureau. They have helped thousands of clients successfully resolve their debts over the years.
2. How long does the debt settlement process take?
The duration of the debt settlement process can vary depending on several factors, including the amount of debt, the number of creditors, and the client’s ability to save funds for settlements. On average, most clients complete the program within 24-48 months.
3. Will debt settlement affect my credit score?
Yes, debt settlement can have a negative impact on your credit score. However, it is important to weigh the potential credit score impact against the benefits of becoming debt-free. Freedom Debt Relief provides guidance on rebuilding credit after completing the program.
4. How much does Freedom Debt Relief charge for their services?
Freedom Debt Relief charges a fee based on a percentage of the total enrolled debt. The fee can range from 15% to 25% of the enrolled debt, depending on several factors. The company provides a free consultation to assess each client’s situation and provide a personalized quote.
5. What are the alternatives to debt settlement?
There are several alternatives to debt settlement, including debt consolidation loans, credit counseling, and bankruptcy. Freedom Debt Relief provides a comprehensive assessment of each client’s financial situation to determine the most suitable solution.
In conclusion, Freedom Debt Relief is a reputable debt settlement company that has been helping individuals and families overcome their financial burdens for over 18 years. With a proven track record of success and a commitment to providing personalized solutions, Freedom Debt Relief is a reliable option for those seeking to become debt-free.
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